RUSNANO and EDB to collaborate in the Eurasian Economic Union’s (EAEU) green hydrogen, alternative energy, and high-tech sectors

RUSNANO and the Eurasian Development Bank (EDB or the Bank) have agreed to collaborate on the implementation of projects in the Eurasian Economic Union’s green hydrogen, renewable energy, and high technology sectors (EAEU).

Sergey Kulikov, Chairman of the Executive Board at RUSNANO MC (Management Company), and Nikolai Podguzov, Chairman of the Management Board at EDB, signed an agreement to this effect at the St. Petersburg International Economic Forum.

The agreement enables EDB to support a new alternative energy fund being established by RUSNANO with the objective of financing the renewable energy sector. This corporation is anticipated to invest not only in the Russian Federation, but also in Kazakhstan and other EAEU member states.

Additionally, the two parties agreed on the terms and circumstances of the Bank’s financing of RUSNANO initiatives aimed at fostering the development of high-tech firms.

“By implementing joint alternative energy projects with the EDB we will be able to create significant potential for enhancing the technology environment and establishing projects to reduce the carbon footprint that would be attractive to investors. As a development institution with vast experience of implementing innovation projects we will be in a position to offer unique expertise for companies in the EAEU,” stated Sergey Kulikov, Chairman of the Executive Board at RUSNANO MC.

“The Eurasian Development Bank has formally agreed to consider becoming involved in financing the RUNSANO alternative energy fund and its projects, including the company’s initiatives in the green hydrogen sector. The agreement is another step by the EDB on the path towards ‘going green’ that both of our nations are on. I would like to remind you all that we own a stake in Green Finance Centre Ltd. of Astana International Financial Centre (AIFC), an organization focused on attracting green finance projects and promoting the use of green financing instruments in the Central Asian region. The document signed today will enable us to start discussions about ample opportunities that the EDB can provide in order to implement cutting edge environmentally-friendly projects in member states of the Bank,” said Nikolay Podguzov, Chairman of the Management Board at EDB.